Microsoft appoints first female CFO

Xbox owner Microsoft this week appointed Amy Hood as chief financial officer. She will replace outgoing CFO Peter Klein and is the first female CFO in the company's history.

Klein announced his intentions to leave Microsoft last month. He will stay on-board at the company through June to ensure a "smooth transition." Hood, 41, becomes CFO effective immediately.

Hood joined Microsoft in 2002 and most recently served as CFO of Microsoft Business Division, where she oversaw all financial strategy and management of the $24.1 billion business. Hood also oversaw the execution of several acquisitions, including Skype for $8.5 billion and Yammer for $1.2 billion.

"Amy brings the right talents and experiences to the role as we continue to strengthen our focus on devices and services," Microsoft CEO Steve Ballmer said in a statement. "She has been an instrumental leader in the Microsoft Business Division (MBD), helping lead the transition to services with Office 365 and delivering strong financial and operational management throughout her time on the business."

Prior to joining Microsoft, Hood worked at investment firm Goldman Sachs in various roles. She attained a bachelor's degree in economics from Duke University and a master's degree in business administration from Harvard University.

Hood is Microsoft's first woman to serve as CFO and one of four female executives at the company. Others include Windows CFO and chief marketing officer Tami Reller, Windows corporate vice president Julie Larson-Green, and chief people officer Lisa Brummel.